Jackson Financial (NYSE:JXN) Announces Earnings Results, Beats Estimates By $0.71 EPS

Jackson Financial (NYSE:JXN) issued its quarterly earnings data on Wednesday. The company reported $6.61 earnings per share for the quarter, topping the consensus estimate of $5.90 by $0.71, FiscalAI reports. The business had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.92 billion. During the same quarter last year, the firm earned $4.65 EPS. Jackson Financial’s revenue for the quarter was down 2.8% compared to the same quarter last year.

Jackson Financial Trading Up 0.7%

Shares of JXN stock traded up $0.83 during trading hours on Thursday, reaching $117.76. The company’s stock had a trading volume of 312,843 shares, compared to its average volume of 537,493. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $8.00 billion, a P/E ratio of 16.21 and a beta of 1.45. The firm’s fifty day simple moving average is $112.63 and its 200 day simple moving average is $102.49. Jackson Financial has a one year low of $64.70 and a one year high of $123.61.

Jackson Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Monday, March 16th will be paid a $0.90 dividend. This is an increase from Jackson Financial’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Monday, March 16th. This represents a $3.60 dividend on an annualized basis and a yield of 3.1%. Jackson Financial’s payout ratio is presently 44.26%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Evercore set a $118.00 price objective on shares of Jackson Financial and gave the stock an “in-line” rating in a research note on Tuesday, January 6th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Jackson Financial in a research note on Monday, December 29th. Barclays reaffirmed an “overweight” rating and set a $137.00 price target on shares of Jackson Financial in a report on Thursday, January 8th. Finally, Morgan Stanley set a $105.00 target price on Jackson Financial in a report on Monday, December 15th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $113.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Triumph Capital Management grew its holdings in shares of Jackson Financial by 2.7% in the fourth quarter. Triumph Capital Management now owns 4,110 shares of the company’s stock worth $438,000 after acquiring an additional 107 shares during the period. UMB Bank n.a. lifted its position in shares of Jackson Financial by 41.0% in the fourth quarter. UMB Bank n.a. now owns 392 shares of the company’s stock valued at $42,000 after acquiring an additional 114 shares in the last quarter. Integrated Wealth Concepts LLC grew its holdings in Jackson Financial by 2.7% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 4,833 shares of the company’s stock valued at $489,000 after buying an additional 128 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Jackson Financial by 14.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,308 shares of the company’s stock worth $141,000 after acquiring an additional 166 shares during the last quarter. Finally, HighTower Advisors LLC boosted its holdings in shares of Jackson Financial by 3.6% during the 4th quarter. HighTower Advisors LLC now owns 4,897 shares of the company’s stock valued at $522,000 after purchasing an additional 172 shares during the last quarter. 89.96% of the stock is owned by institutional investors.

About Jackson Financial

Jackson Financial Inc is a U.S.-based financial services holding company headquartered in Lansing, Michigan. The company operates primarily through its principal subsidiary, Jackson National Life Insurance Company, and specializes in designing and distributing retirement products. Jackson Financial has been publicly traded on the New York Stock Exchange under the ticker JXN since its initial public offering in May 2022.

The company’s core offerings include a broad range of fixed, variable and indexed annuity products aimed at helping individuals preserve and grow retirement assets.